Indonesia Stocks Plunge 36% as Rupiah Hits Record Low Under Prabowo Policies
Updated
Updated · Bloomberg · Jun 5
Indonesia Stocks Plunge 36% as Rupiah Hits Record Low Under Prabowo Policies
3 articles · Updated · Bloomberg · Jun 5
Summary
Indonesia’s benchmark stock index has fallen 36% in just five months after reaching a record high, making it the world’s worst performer this year among more than 90 Bloomberg-tracked gauges.
The rupiah has weakened more than 7% to all-time lows as global investors rapidly lose confidence in President Prabowo’s policy direction.
Foreign investors have also pulled billions of dollars from Indonesian bonds, extending the selloff beyond equities and currency markets.
The slide points to a broad retreat from Indonesian assets, underscoring how quickly sentiment has turned against one of Southeast Asia’s largest markets.